Hilton Group Locks In on Myanmar

Hilton Worldwide Holdings Inc.Hilton Worldwide Holdings Inc. plans on opening five additional hotels in Myanmar within the next three years, and has already come to an agreement with Eden Group Company Limited, a local business conglomerate, regarding the properties.

Two of the assets are existing hotels that will be rebranded as Hilton hotels by the end of the year, if not sooner. The three remaining properties are scheduled to open in 2016 and 2017.

The Hilton Group is already building a 300-room hotel in the Centrepoint Complex in Rangoon, construction of which has been fraught with delays, largely from a lack of manpower. Originally scheduled to open in March, this has now been postponed until the end of the year.

The city of Rangoon is plagued with a lack of hotels, which directly clashes with the surge in tourism that Myanmar has experienced over the past couple years. A quick check on  shows only 136 hotels available, only 18 of which are 4 stars or above. In comparison, Kuala Lumpur (a smaller city) has 566 hotels showing with 94 of those being 4 stars or above.

Hilton is not alone in its quest to capitalize on this new market, however. The Accor Group, Shangri-La Group, and Pan Pacific Hotels Group are all said to be joining in on the fun.

For more details, click here to jump over to The Irrawaddy.